PayPal Partners With Singapore Government on Mobile Payments
"M-commerce is really taking off in this mobile-mad region as consumers increasingly shop on their mobile phones," Rahul Shinghal, regional head-mobile product of PayPal Asia Pacific, blogged yesterday from CommunicAsia, a large telecom show taking place in Singapore.
PayPal announced yesterday a collaboration with Singapore’s Infocomm Development Authority. This government agency has a Digital Concierge program that is part of its "10-year Intelligent Nation Masterplan to help transform the Tourism, Hospitality and Retail sector," according to IDA's website. The program is intended to offer users access to useful information and services on their mobile phones, such as information about nearby restaurants and mobile payments.
PayPal will provide a way for businesses and consumers to make payments via mobile devices such as the iPhone and Android. Singapore-based online shopping site Reebonz, for instance, has been developing an iPhone app that incorporates PayPal payments.
According to Shinghal, Singapore has 138% mobile penetration, 8 out of every 10 phones purchased are smartphones, and retailers are eager to make use of mobile commerce.
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